Tax Problems?
Millions of Americans today owe back taxes to the IRS. Unfortunately, when you owe back taxes regardless of the amount, the IRS will eventually put you into collections which starts with letters and leads to wage garnishments, bank levies, liens and so fourth. Once IRS issues get this far, you need help (or if it has not got to this point be proactive and seek help).
Again from the IRS imposing tax liens to bank levies, wage garnishments to the IRS closing your business (if you are a business owner and / or seizure of your assets. The IRS is powerful at collections and has lot’s of collection tools that in many cases destroy individual, business and family finances. The good news is taxpayers also have a tremendous amount of tax resolution tools should you decide to exercise your rights. With the help of a tax resolution professional, you can keep the devastating effects from the IRS to a minimum and delay processes as needed. Here at 911 Tax Relief we feel it is our job to help you explore your options by listening and understanding your unique tax and current financial situation.
Here are a few resolution options that may be available to you:
Wage Garnishment
This is by far the most financially devastating collection action the IRS can impose on a person or business. Furthermore, the wage garnishment can stay in effect until the entire tax is fully paid.
UnfiledTax Returns
This is extremely common and one area the IRS is really cracking down on. Some taxpayers fail to file tax returns due to the fact they do not have the money to pay the balance due on the tax return. What most people are unaware of is that willfully not filing a tax return is illegal, plus there are many reasons for the timely filing of tax returns, such as the IRS can impose a penalty of up to 25% of the tax due on a late tax return.
Offer in Compromise
The Offer in Compromise program allows taxpayers to settle their IRS taxes for less, or often much less than you owe (or what the IRS claims you owe.)
IRS Tax Liens
The IRS can collect back taxes by levying on taxpayers’ property by instituting a tax lien. If a person or business has a back tax balance with the IRS, the IRS can impose a federal tax lien on assets after meeting statutory requirements. An IRS tax lien is a powerful collections tool as it can attach all rights, title and interest of the taxpayer. Once the IRS moves forward, the IRS can easily enforce the said tax lien by administratively levying assets.
IRS Payroll Taxes & Trust Fund Recovery Penalty
The IRS does not play games when these type of taxes are owed.
Congress enacted the Trust Fund Recovery Penalty Statute to push for immediate payment of withheld and other collected payroll taxes by allowing the IRS to assert a liability against responsible third parties [IRC 6672].
Again, these are just a few options that may be available to you. Don’t hesitate to contact us anytime at toll free no. 1-866-499-1156 or visit our website at 911taxrelief.com.